Tomahawk, WI 07/04/2014 (Basicsmedia) – Weyerhaeuser Company (NYSE:WY), one of the largest private owners of timberlands, in this world, owns and holistically controls more than 7 million acres of timberlands in the US and 13.9 million in Canada.
WY Share Price Surges
WY announced on July 3, 2014 the exchange offer results for the common shares affected by the split off transaction of the home building business. The exchange offer for the common WY shares pertaining to the Weyerhaeuser Real-Estate Company (WRECO), has been accepted with great fervor and earnestness by the traders’ fraternity, as the share prices surged up 0.97%, touching the 1 year high mark of $33.75 per share.
The exquisite exchange offer is in connection with the previously announced ‘Reverse Morris Trust’ transaction, pursuant to a fully owned subsidiary of TRI Pointe Homes, Inc. (NYSE:TPH) embarking upon a merger with WRECO.
The WY Plans
Weyerhaeuser Company (NYSE:WY) has announced its plans to notch up the shares tendered validly in the prosperous exchange offer that is expected to close within July 7, 2014, subject to instances of proration. The exchange offer encompasses a righteous exchange of some, all or none of the common shares; the exchange offer ensured 1.7003 WRECO common shares exchanged for every WY share validly tendered and not effectively withdrawn.
Post-closure of the merger, every WRECO common share would be duly converted in all rights reserved to receive 1.297 TPH common shares. The WY shareholders who had tendered their WY common shares, as an exchange offer, would ideally receive 2.2053 TPH shares, accepted for exchange.
In the exchange offer that expired at 12:00 midnight, on July 2, 2014 (NYC Time) totaled 207,224,840 WY common shares tendered before the expiration of the offer that includes 102,423,703 shares that meets the estimated delivery procedures.
Share Price To Surge Higher!
Weyerhaeuser Company (NYSE:WY) can only determine the net proration factor only after the end of the delivery period of the announced exchange offer at the closing session at 5:00 PM, on July 8, 2014. Certainly, with the anticipated common share tendering meeting its anticipation, WY share price have a fair chance to surge up, luring traders in teeming numbers.